33. Rectify the following errors by means of Journal entries: (i) A cheque of ₹5,000 received from Ashish was dishonoured and was debited to Discount Account. (ii) Purchase of ₹540 from Ramneek was written in Sales day book, but was correctly posted to correct side of Ramneek’s Account. (iii) Salary paid to Miss Yugakshi ₹1,000 … Read more
32. Rectify the following errors: (i) The Sales Book has been totalled ₹1,000 short. (ii) Goods worth ₹1,500 returned by Green and Co. have not been recorded anywhere. (iii) Goods purchased worth ₹2,500 have been posted to the debit of the supplier, Gupta and Co. (iv) Furniture purchased from Gulab and Co. worth ₹10,000 has … Read more
31. Give rectifying journal entries for the following errors: (a) Sale of goods to Madan ₹6,000 were entered in the sales book as ₹600. (b) A credit purchase of ₹1,500 from Ajay has been wrongly passed through the sales book. (c) Repairs to building ₹300 were debited to building account. (d) ₹2,050 paid to Rohit … Read more
30. A Book-keeper finds that the totals of his trial balance disagree by 2,800. He temporarily debits a Suspense Account with this amount and closes the books. On an examination of the books, the following errors are discovered:- The total of Purchase Return Book ₹710 was posted twice. Goods costing ₹800 were distributed as free … Read more
29. In taking out a Trial Balance, an Accountant finds an excess debit of ₹1,098. Being desirous of closing his books, he places the difference to Suspense A/c. Later on he detects the following errors: Goods purchased from Surinder for ₹350 has been credited to his account as ₹530. Goods sold to Dinesh for ₹800 … Read more
28. A Book-keeper finds the difference in the Trial Balance amounting to ₹210 and puts it in the suspense account. Later on he detects the following errors. Rectify these and prepare the Suspense Account Goods purchased from Ram ₹700 was passed through sales book. Returned goods to Shyam ₹1,500 was passed through returns inward book. … Read more
27. A Trial Balance showed excess credit of ₹2,728, which were placed in a suspense account. Later on the following errors were located. Pass rectifying entries and prepare Suspense A/c. ₹825, the total of purchase return book has been posted to the debit of sales return account. Goods purchased from Suresh ₹1,800 recorded in Sales … Read more
26. Rajesh Kumar was unable to reconcile his Trial Balance as on 31st March 2023 and has opened a suspense account from the difference. Later on the following errors were discovered: (1) There were three compensating errors (a) The total of Sales Return Book was overcast by ₹100. (b) The total of one page of … Read more
25. There was an error in the Trial Balance of Mr. Steel on 31st March, 2023, and the difference in Books was carried to a Suspense Account. On going through the Books you find that: (i) ₹5,400 received from Mr. A was posted to the debit of his account. (ii) ₹1,000 being purchases return were … Read more
24. Trial Balance of Madan did not agree and he put the difference to Suspense Account. He discovered the following errors (a) Sales Returns book overcast by ₹800. (b) Purchases returns to Sahu ₹2,000 were not posted to his account. (c) Goods purchased on credit from Narula ₹4,000 though taken into stock but no entry … Read more